KUALA LUMPUR: Shares of ESSO MALAYSIA BHD [] came under profit taking in the afternoon session on Wednesday, May 25 after its chairman said there was no indication from its major shareholder ExxonMobil International Holdings Inc to divest part or all of its 65% stake.
At 2.42pm, it was down 24 sen to RM5.60 with 2.22 million shares done. On Tuesday, it had surged to a 13-year high on stake sales expectations.
The FBM KLCI rose 2.48 points to 1,534.60. Turnover was RM408.23 million shares valued at RM656.49 million. There were 257 gainers, 366 losers and 302 stocks unchanged.
The Edge had earlier reported that BOUSTEAD HOLDINGS BHD [] and its parent company Lembaga Tabung Haji were eyeing Exxonmobil's 65% controlling stake, comprising of 175.5 million shares, in Esso Malaysia.
Esso Malaysia Bhd chairman Hugh Thompson said on Wednesday: "We are aware of the news reports. There are no indications from ExxonMobil International that they are going to change their shareholding in Esso Malaysia in a dramatic way at this point.'
Esso Malaysia shares have attracted strong investor interest following market talk about the potential takeover by Boustead and the recent release of Esso Malaysia's 1QFY11 results.
At 2.42pm, it was down 24 sen to RM5.60 with 2.22 million shares done. On Tuesday, it had surged to a 13-year high on stake sales expectations.
The FBM KLCI rose 2.48 points to 1,534.60. Turnover was RM408.23 million shares valued at RM656.49 million. There were 257 gainers, 366 losers and 302 stocks unchanged.
The Edge had earlier reported that BOUSTEAD HOLDINGS BHD [] and its parent company Lembaga Tabung Haji were eyeing Exxonmobil's 65% controlling stake, comprising of 175.5 million shares, in Esso Malaysia.
Esso Malaysia Bhd chairman Hugh Thompson said on Wednesday: "We are aware of the news reports. There are no indications from ExxonMobil International that they are going to change their shareholding in Esso Malaysia in a dramatic way at this point.'
Esso Malaysia shares have attracted strong investor interest following market talk about the potential takeover by Boustead and the recent release of Esso Malaysia's 1QFY11 results.
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